Surrey Hills

Surrey Hills, VIC 3127 is a suburb with a total population of 13,655 residents, experiencing a slight population growth in the past year. The suburb has a diverse age range, with a significant number of residents aged between 5 to 64 years. The majority of residents commute using motor vehicles and a notable proportion work from home. The suburb boasts high educational standards in government schools, with an ICSEA percentile of 97.0. The median weekly household income is $2,503, indicating a relatively affluent community. The most common occupations are professionals, followed by managers and community/personal service workers. For house investors, Surrey Hills presents an opportunity for potential renovators due to a high sale price IQR ratio. Properties in this suburb have shown a median growth rate over the past years, indicating a stable market. With a low vacancy rate and moderate rental yield, it could be suitable for long-term investment. On the other hand, investors interested in units might find Surrey Hills appealing due to the lower price point, higher rental yield, and comparatively higher market absorption rate, indicating a stronger demand for rental units. Surrey Hills, VIC 3127 offers residents a well-established neighbourhood with strong educational facilities and a diverse community. For property investors, both houses and units in Surrey Hills present different opportunities based on their investment goals and risk appetite. The suburb's stable growth rate and low vacancy rate make it an attractive option for those looking for a long-term investment in the Melbourne property market. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022